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economic mainstream

Opening up the economy

The Nawaz Sharif Government has instituted far reaching changes in the Foreign Currency Regulations in a bid to make the domestic climate more conducive to foreign investment. This marks one of the most fundamental of the reforms needed to revitalize the economy and one must commend the courage of the present regime, especially the PM and the Finance Minister. All these changes were on the anvil during the previous PPP Government but unfortunately Ms Benazir mixed up her priorities, economic options were waylaid by personal greed of some of her partymen and close relatives. Rumours abound that Senator Dr Mahbubul Haq was about to attempt such a departure from the norm when he was Finance Minister, the credit must rightly go to the mature, confident and unassuming Sartaj Aziz for ushering in these changes. Honesty in day-to-day dealing and a feet-on-the-ground approach accomplishes much more than flamboyant rhetoric dedicated to self-propagation. Dr Mahbubul Haq’s cerebral qualities are overshadowed by his known penchant to somersault on key ideological issues under pressure. To that extent and more, Sartaj Aziz dominates him, simply by his quiet demeanour, steadfastness and firm authority.

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